ING Groep NV Reduces Position in Gilead Sciences, Inc. (NASDAQ:GILD)

ING Groep NV lowered its holdings in Gilead Sciences, Inc. (NASDAQ:GILD - Free Report) by 33.9% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 259,383 shares of the biopharmaceutical company's stock after selling 133,302 shares during the quarter. ING Groep NV's holdings in Gilead Sciences were worth $23,959,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. FMR LLC boosted its position in shares of Gilead Sciences by 79.4% in the 3rd quarter. FMR LLC now owns 33,162,319 shares of the biopharmaceutical company's stock valued at $2,780,329,000 after purchasing an additional 14,680,161 shares during the period. Wellington Management Group LLP boosted its position in shares of Gilead Sciences by 50.9% in the 3rd quarter. Wellington Management Group LLP now owns 34,600,676 shares of the biopharmaceutical company's stock valued at $2,900,921,000 after purchasing an additional 11,665,593 shares during the period. Pacer Advisors Inc. boosted its position in shares of Gilead Sciences by 723.3% in the 4th quarter. Pacer Advisors Inc. now owns 6,434,665 shares of the biopharmaceutical company's stock valued at $594,370,000 after purchasing an additional 5,653,075 shares during the period. Point72 Asset Management L.P. boosted its position in shares of Gilead Sciences by 350.1% in the 3rd quarter. Point72 Asset Management L.P. now owns 2,305,270 shares of the biopharmaceutical company's stock valued at $193,274,000 after purchasing an additional 1,793,145 shares during the period. Finally, International Assets Investment Management LLC boosted its position in shares of Gilead Sciences by 8,238.4% in the 3rd quarter. International Assets Investment Management LLC now owns 1,642,504 shares of the biopharmaceutical company's stock valued at $137,708,000 after purchasing an additional 1,622,806 shares during the period. Hedge funds and other institutional investors own 83.67% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. Truist Financial increased their price objective on Gilead Sciences from $83.00 to $97.00 and gave the stock a "hold" rating in a research report on Friday, November 8th. Deutsche Bank Aktiengesellschaft raised Gilead Sciences from a "hold" rating to a "buy" rating and increased their price objective for the stock from $80.00 to $120.00 in a research report on Tuesday, February 18th. Daiwa America raised Gilead Sciences to a "hold" rating in a research report on Monday, November 18th. Wells Fargo & Company increased their price objective on Gilead Sciences from $105.00 to $120.00 and gave the stock an "overweight" rating in a research report on Wednesday, February 12th. Finally, Oppenheimer increased their price objective on Gilead Sciences from $105.00 to $115.00 and gave the stock an "outperform" rating in a research report on Tuesday, December 10th. Eleven analysts have rated the stock with a hold rating, fifteen have given a buy rating and four have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $102.08.

Insider Activity at Gilead Sciences

In other Gilead Sciences news, CFO Andrew D. Dickinson sold 2,500 shares of the business's stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $91.35, for a total transaction of $228,375.00. Following the transaction, the chief financial officer now owns 129,873 shares in the company, valued at $11,863,898.55. The trade was a 1.89 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Merdad Parsey sold 164,211 shares of the business's stock in a transaction dated Wednesday, November 27th. The stock was sold at an average price of $91.92, for a total value of $15,094,275.12. Following the transaction, the insider now owns 80,801 shares in the company, valued at approximately $7,427,227.92. This represents a 67.02 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 713,000 shares of company stock worth $67,945,181. 0.16% of the stock is owned by insiders.

Gilead Sciences Trading Down 0.1 %

Shares of GILD stock traded down $0.08 during mid-day trading on Friday, hitting $109.95. 9,729,048 shares of the company's stock were exchanged, compared to its average volume of 7,379,648. Gilead Sciences, Inc. has a fifty-two week low of $62.07 and a fifty-two week high of $111.03. The stock has a 50-day simple moving average of $95.41 and a two-hundred day simple moving average of $88.73. The company has a quick ratio of 1.20, a current ratio of 1.50 and a debt-to-equity ratio of 1.24. The stock has a market cap of $137.03 billion, a price-to-earnings ratio of 297.16, a PEG ratio of 0.71 and a beta of 0.18.

Gilead Sciences (NASDAQ:GILD - Get Free Report) last posted its quarterly earnings data on Tuesday, February 11th. The biopharmaceutical company reported $1.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.67 by $0.23. Gilead Sciences had a return on equity of 31.63% and a net margin of 1.67%. Equities analysts expect that Gilead Sciences, Inc. will post 7.95 EPS for the current fiscal year.

Gilead Sciences Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, March 14th will be issued a $0.79 dividend. The ex-dividend date is Friday, March 14th. This represents a $3.16 dividend on an annualized basis and a yield of 2.87%. This is a boost from Gilead Sciences's previous quarterly dividend of $0.77. Gilead Sciences's dividend payout ratio (DPR) is presently 832.43%.

Gilead Sciences Company Profile

Gilead Sciences, Inc, a biopharmaceutical company, discovers, develops, and commercializes medicines in the areas of unmet medical need in the United States, Europe, and internationally. The company provides Biktarvy, Genvoya, Descovy, Odefsey, Truvada, Complera/ Eviplera, Stribild, Sunlencs, and Atripla products for the treatment of HIV/AIDS; Veklury, an injection for intravenous use, for the treatment of COVID-19; and Epclusa, Harvoni, Vemlidy, and Viread for the treatment of viral hepatitis.